10. Bukit Darah

VIEWS (1982)

Hari Selvanathan, Chairman

Bukit Darah enters the Business Today TOP 30 at number ten. As a diversified group focused on beverages, leisure, plantations, oil & fats, portfolio & asset management and real estate, Bukit Darah recorded a revenue of 85.6 billion rupees. This indicated a decline of 3.4 per cent and profits fell by 18.2 per cent.

As the holding company of Carson Cumberbatch and Goodhope Asia Holdings, Bukit Darah has a presence in Indonesia, Malaysia, India and Singapore.

Beverages was the largest contributor to the Group's revenue with 36.9 billion rupees, which was an increase of 13.8 per cent. PAT was 2.1 billion rupees. However, the segment was affected by excise duty changes during the year. Furthermore, the Biyagama plant was severely damaged by the floods in May this year halting operations. Leisure recorded 583 million rupees, which was a 14.3 per cent increase. Considering the growth in the tourism industry the Group is set to refurbish and upgrade its properties. The oil palm plantations did not perform well due to CPO prices and FFB yields being below expected levels, this was further compounded by climatic conditions that affected the plantations in Indonesia. Regardless of the challenges, this sector recorded a revenue of 19.1 billion rupees and a PAT of 2.3 billion rupees. The Oil and Fats business based in Malaysia remained on track.

Controlled by the Selvanathans, the Group has grown steadily under their unassuming yet dynamic leadership. Over the years the Selvanathans have been contributing significantly to the Sri Lankan economy through their ventures.

Bukit Darah having interests in both Sri Lanka and overseas, will need to take a more proactive role in the private sector in Sri Lanka as the economic direction changes its course.